GTA publisher will cut staff and cancel several games in development

Take-Two Interactive will lay off about 5% of its employees, which will equal approximately 600 people.

In addition to the cuts, Take2 will stop developing a number of titles. It is unknown which games will be cancelled, but the move will cut costs by $165 million annually.

Take-Two fully owns, among other things, the Rockstar studio, which is now hard at work on the sixth part of GTA, tentatively released next year.